BB&T Corp lowered its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,673 shares of the industrial products company’s stock after selling 1,298 shares during the period. BB&T Corp owned approximately 0.08% of Worthington Industries worth $2,595,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the stock. LS Investment Advisors LLC raised its stake in Worthington Industries by 31.6% in the first quarter. LS Investment Advisors LLC now owns 3,977 shares of the industrial products company’s stock valued at $179,000 after buying an additional 954 shares during the last quarter. Alpha Windward LLC bought a new stake in Worthington Industries during the first quarter valued at $433,000. Teachers Advisors LLC raised its stake in Worthington Industries by 4.7% in the fourth quarter. Teachers Advisors LLC now owns 92,546 shares of the industrial products company’s stock valued at $4,390,000 after buying an additional 4,181 shares during the last quarter. Swiss National Bank raised its stake in Worthington Industries by 1.0% in the first quarter. Swiss National Bank now owns 78,600 shares of the industrial products company’s stock valued at $3,544,000 after buying an additional 800 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Worthington Industries by 2.6% in the first quarter. Wellington Management Group LLP now owns 98,206 shares of the industrial products company’s stock valued at $4,428,000 after buying an additional 2,516 shares during the last quarter. Institutional investors own 53.78% of the company’s stock.
Worthington Industries, Inc. (NYSE WOR) opened at 49.94 on Friday. Worthington Industries, Inc. has a 52 week low of $39.28 and a 52 week high of $62.44. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 15.85 and a beta of 1.14. The stock’s 50 day moving average price is $50.47 and its 200 day moving average price is $47.07.
Worthington Industries (NYSE:WOR) last released its quarterly earnings data on Wednesday, June 28th. The industrial products company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. Worthington Industries had a return on equity of 20.59% and a net margin of 6.78%. The business had revenue of $845.30 million for the quarter, compared to the consensus estimate of $785.58 million. During the same quarter in the prior year, the business posted $0.87 EPS. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, analysts forecast that Worthington Industries, Inc. will post $3.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.68%. This is an increase from Worthington Industries’s previous quarterly dividend of $0.20.
A number of analysts have weighed in on WOR shares. BidaskClub lowered Worthington Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded Worthington Industries from a “sell” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Wednesday, June 7th. Finally, Jefferies Group LLC increased their target price on Worthington Industries from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $47.33.
In other news, VP Dale T. Brinkman sold 28,212 shares of the stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $49.50, for a total value of $1,396,494.00. Following the transaction, the vice president now owns 71,087 shares in the company, valued at approximately $3,518,806.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Geoffrey G. Gilmore sold 32,500 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $50.85, for a total value of $1,652,625.00. Following the completion of the sale, the insider now directly owns 86,477 shares of the company’s stock, valued at $4,397,355.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,712 shares of company stock worth $3,300,819. Company insiders own 32.00% of the company’s stock.
About Worthington Industries
Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.
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